Degree course: 
Academic year when starting the degree: 
Academic year in which the course will be held: 
Course type: 
Compulsory subjects, characteristic of the class
Seat of the course: 
Varese - Università degli Studi dell'Insubria
Second semester
Standard lectures hours: 
Detail of lecture’s hours: 
Lesson (40 hours), Exercise (10 hours)

This course, part of the International Business & Entrepreneurship (IBE) Curriculum of the Master of Science in Global Entrepreneurship Economics & Management (GEEM), requires some basic knowledge of Financial Statement, Finance and Control. In case the student does not possess the required skills, the course lecturers will provide him/her with some necessary and sufficient materials to fill the knowledge gaps.

Final Examination: 

For attending students:
The examination for those who attend the course consists of a single general written test, to be taken at the end of the course (summer session dates: May/June/July 2022). Outside these dates, the student's status as an attending student is revoked.
For those attending, all the material uploaded onto e.learning will be examined: modules 1-5-6-8-9-12 by R. Simons, as well as transparencies, exercises, cases and teaching notes.
Examinations in presence:
The written tests consist of some exercises and theory questions formulated in different ways (multiple choice, true-false, open questions), for a maximum duration of 1h and 45'. The exercises allow the teacher to check the student's level of learning in relation to the ability to analyse and process data referring to concrete company situations, while the theory questions are used to check knowledge of concepts, definitions and models. The tests have a maximum score of 31/30.
Distance examinations:
In the case of online examinations, the lecturers will explain the structure of the examination in good time, also depending on the number of participants.
Defining the grade:
The following will be taken into account for the final grade:
- The general test (with a weighting of 70% on the overall assessment);
- The two group assignments (each weighing 15% of the overall grade).

For non-attenders:
For non-attending students, all the material uploaded onto e.learning will be tested: modules 1-5-6-8-9-12 by R. Simons, as well as slides, exercises, cases and teaching notes.
For non-attending students (students who have not done the assignments) the examination is also written and has the same structure as the examination for attending students, exercises and theory questions.

Voto Finale

The course aims to provide students with the opportunity to learn how to design and implement effective "measurement systems" to support the formulation of business strategies and to control performance at different levels of the organisation with a focus on governance issues in innovative companies.

The course is divided into 6 complementary teaching blocks:
1) The role of Performance Measurement Systems in innovative companies - 2) The “actual” monetary measures to assess the health of a company: reclassification and analysis of financial statements - 3) "Forecast" measures to assess the feasibility and sustainability of growth strategies: the Profit Plan and the Master Budget system - 4) Assessing and managing the innovative company performance: the different forms of reporting - 5) The organisational perspective of PMS: the responsibility center- 6) The new trends in PMS: Sustainability reporting

PART 1 – Definition and role of Performance Measurement and Control Systems
- The relationships between strategy, organisation and performance in complex companies: the role of PMS

PART 2 - "Monetary" measures for assessing the health of a company: opportunities and limitations of financial statements analysis
Evaluating the health of a company through financial statement analysis
2.a The different ways of reclassifying financial statements
2.b The index system and the cash flow analysis
2.c. The control needs of start-ups. The role of PMCS in innovative companies.

PART 3 - "Forecasting" measures to assess the feasibility and sustainability of growth strategies: the Profit Plan and the Master Budget system
- Assessing the feasibility and long-term profitability of a business strategy through the Profit Plan tool: the profit cycle, the cash cycle and the ROE cycle;
- Empowering managers to achieve short-term objectives through the master budget tool: operating budget, financial budget and balance sheet budget.

PART 4 - Evaluating and managing the performance of innovative enterprises: the different forms of reporting
- The role and design of financial reporting
- The Balanced Scorecard: advantages and limitations

PART 5 - The organisational perspective of PMS: decentralisation of responsibilities
- Organisational decentralisation and centres of economic responsibility

PART 6 - New orientations in PMS
- Sustainability reporting and integrated reporting.

In order to pass the exam, the following texts and teaching materials are recommended:
- R. Simons - Strategy Execution Module 1-5-6-9-12, available on the course's e-learning platform
- Slides, exercises, cases and teaching notes available on the e-learning platform of the course.


Lectures, exercises and case discussions. Attending students will be asked to carry out two group assignments that will be assigned by the lecturers. The projects will be assessed and will be included in the final grade of the exam as specified below.

Teachers will be available to students during receptions whose calendar is available on the staff of the teachers themselves.

Prof. ANNA MARIA ARCARI - +39 0332 395540
Prof. ANNA ISIDE PISTONS - +39 0332 395517